OMGI's Buxton warns of 'horrible' Brexit fallout

In favour of fiscal weakening

Old Mutual Global Investors' chief executive Richard Buxton has described the fallout from the Brexit result as "one of the most unusual economic environments" he has known in his 30-year investment career.

Speaking to the Guardian, Buxton (pictured), who was appointed CEO last summer and is also head of equities at the firm, said he expects a mild recession will follow the vote and the fallout will be "horrible".   Leading up to the referendum, Buxton had said he did not expect the UK to leave the EU, and openly expressed his sadness at the outcome of the vote, warning of a "DIY recession". Carney: Brexit could lead to technical UK recession "I do not think there was doom-mongering, because it is absolutely going to be horrible," he told the Guardian. "Mark Carney's speech [in which ...